Summary information related to the recent Tax Law changes.
As we begin the final two calendar months of the year, individuals and families start to wrap up their financial year.
On September 7, 2017, Equifax, one of the nation’s three major credit reporting agencies, announced what it describes as a “cybersecurity incident” involving consumer information affecting up to 143 million customers.
We’ve written before how a little strategic long-term thinking is good for your financial health. Tying in your personal financial goals with the goals for your investment portfolio helps you to stay the course when the course gets rocky. As with investments, being strategic with your estate plan is another best practice we encourage for our clients.
While catching up on sleep may help your health, it would take a miracle to go to sleep earlier one night and wake up with a heap of cash at your bedside. While there’s no one secret or rule that will instantly make you rich, emulating some of the financial habits of the wealthy may help you follow in their fiscal footsteps.
“Luck plays a big role. Athletes, poets and businesses get lucky. Hard work is critical, a good team is essential, brains and determination are invaluable but luck may decide the outcome.” Phil Knight, Shoe Dog: A Memoir by the Creator of Nike. An investment philosophy is a set of principles that guides all portfolio decisions.
Hopefully, everyone has been enjoying their summer. Here in Wisconsin, similar to the recent stock market increase in July, our temperatures have recently hit the high mark for the year-to-date. However, the path for both the temperature and investments has not been on a linear path. This newsletter addresses how these non-linear paths are important to be aware of. We see them in reviewing first half investment returns, in predicting future investment returns, and in reviewing future economic scenarios. Being aware of this concept can improve the investor experience and hopefully lessen anxiety along the way.
In a month or so, America heads into the summer “vacation” season and it makes sense that people are busy planning their getaways. Having a financial plan is a lot like having a travel plan in that it identifies where you’re going, how and when you’ll get there, how much it’ll cost, and things to do along the way. Like planning a vacation, your financial plan can be loosely structured or highly detailed based on your individual needs. However, having no plan at all could leave you stranded in the middle of nowhere. A recent Household Financial Planning Survey conducted …
“If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It’s the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, you’ll be miserable.”- Daniel Kahneman Daniel Kahneman, the winner of the Nobel Prize in Economics and author of the New York Times bestseller, Thinking, Fast and Slow, has helped investors better understand their thought biases in the hopes of creating a better investment experience. Even though we like to believe our decision making is rational, we are all …